Broker Conveyancing, the broker-focused conveyancing distributor, has enjoyed a strong start to its second year of trading with instruction levels and broker user numbers both up.
Overall instructions increased 12% from June to July, and a further 4% from July to August. Purchase instructions were up 13% and 5% respectively and remortgage instructions up 9.5% and 3%.
The distributor pinned the increase in instructions on government initiatives such as Help to Buy and the Funding for Lending Scheme, and the growing number of brokers joining and using the portal.
Broker Conveyancing, which launched in the summer of 2012, is extending its loyalty bonus for all users with each broker continuing to receive £25 for every case which completes.
It claims to offer brokers and clients radical pricing, payment on exchange, an all-inclusive fee structure, 'no completion – no legal fees charged', and fall-through protection on searches.
Managing director Harpal Singh said: “We have been very pleased with our first year, given that back in the summer of 2012 the green shoots of a housing and mortgage market recovery were hard to distinguish.
"Since then we have not only benefited from an increase in transaction activity but more and more brokers are switching their business to us. This has become even more apparent in the past four to five months as levels of business have increased fairly dramatically.
“A new broker is switching to us and using the portal every single day. To celebrate, we have decided to extend our £25 loyalty bonus offer so existing and new users will continue to benefit from this income boost.
"As the mortgage market does improve it is important that brokers do not forget the diversification methods that have seen them through the dark times. Anyone who has been active in our sector over the past few years will know how quickly sentiment can shift and therefore we should make sure we are able to deliver on all our clients’ needs not just the mortgage itself.”
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